[The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 200 units @ $10 = $ 2,000 Jan.10 Sales 150 units @ $40 Mar.14 Purchase Mar.15 Sales July 30 Purchase 350 units $15 = 5,250 300 units @ $40 450 units @ $20 = 9,000 Oct. 5 Sales 430 units @ $40 Oct. 26 Purchase 100 units $25 = 2,500 Totals 1,100 units $18,750 880 units